It’s no secret that a large contributor to the tax gap—the difference between the taxes that are paid and the taxes that are owed—are independent contractors who don’t have taxes withheld from their payments. B Notices, properly called CP 2100/2100A notices, which require payers to backup withhold, are a key tax collection tool.
Ineffective payroll management and shoddy payroll systems can result in personal liability (including JAIL TIME) for non-compliance.
Business Management Daily helps our readers with information on payroll processing and tips on timesheets that will help you to implement payroll programs that pay off.
If you can’t show your time records are accurate, lawsuits claiming unpaid overtime can get costly. That’s because—absent reliable employer records—courts will let employees fill in the timekeeping details. Make sure your records are easily explained and tamper-proof.
How can an employer reduce its exposure to claims for off-the-clock work if employees use their own electronic devices for business purposes?
As the hot, sticky air of summer clears out, now is the time for you and your employees to do some clearing out of your own. The payoff: A smoother year-end Payroll process.
Question: We run a rural health clinic. We know that payments made under certain programs that encourage health care professionals to work in underserved areas are tax-free. Do these payments fall into that category?